Ethereum – Will ETH’s $432M liquidation shock put $2K support at risk?

Ethereum’s drop from $2,246 to $2,060 triggered $432 million in liquidations, the largest single liquidation event since mid-August. The selloff puts the $2,000 support level under scrutiny as traders assess whether leveraged positions can absorb further downside. ETH’s slide underscores how quickly forced deleveraging can amplify moves in major tokens and spill over into broader crypto risk sentiment. Market participants will watch whether ETH holds above $2,000 and whether liquidation volumes cool, while monitoring funding rates and open interest for signs of stabilizing leverage.